In this week’s round-up, we take a look at the latest drama around the expansion of BRICS. See the latest from Saudi Arabia, which appears to be having second thoughts about joining BRICS. Meanwhile, Ethiopia also seems to be off to a rocky start to the year. We also take a look at the fallout from Argentina’s decision not to accept the invitation to join BRICS.
Saudi Arabia still considering BRICS membership
Ethiopia becomes BRICS member amid economic crisis
Joining the BRICS alliance of emerging economies with four other countries this year provided a glimmer of hope in Africa. Finance Minister Ahmed Shide told Chinese state broadcaster CGTN that the move was an important diplomatic gain for his country.
Argentina’s snub may strain China ties but Brics has ‘dodged a bullet’
There has been uncertainty over the relationship between China and Argentina since far-right economist Javier Milei was elected president of the Latin American nation in November. While Milei has softened his tone recently, he had campaigned on breaking ties with China, stating that its people were “not free” and that Argentina would no longer work with nations “ruled by communism”.
Argentina’s plan to not join BRICS reflects its uncertain foreign policy, makes its economic recovery more arduous
Experts believe that refusing to join BRICS shows that President Milei lacks a strategic vision. For Argentina, joining multilateral platforms like the BRICS is exactly what Argentina needs to achieve an economic recovery. Now it seems that this opportunity is slipping through Milei’s fingers.
Argentina’s decision not to join BRICS perplexing: former ambassador
“The new government, with a clear bias and ideological perspective, will cause serious harm to Argentina’s economy,” said former Argentine ambassador to China Sabino Vaca Narvaja in an exclusive interview with the Global Times.
Ignoring BRICS Expansion Threatens America’s Economic Security
January 1, 2024, saw the significant expansion of a major threat to America’s financial security. Curiously, the event passed largely without comment from the Biden administration. The trigger for this potential economic time bomb is the BRICS+, an alliance of nations that could soon seek to replace the U.S. dollar as the world’s reserve currency. Its success would mean a lower quality of life for all Americans.
